Lecap Asset Management Ltd. Makes New Investment in Incyte Co. (NASDAQ:INCY)

Lecap Asset Management Ltd. acquired a new position in shares of Incyte Co. (NASDAQ:INCY) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 12,108 shares of the biopharmaceutical company’s stock, valued at approximately $836,000.

Other large investors have also recently made changes to their positions in the company. Global X Japan Co. Ltd. lifted its position in Incyte by 144.7% during the 4th quarter. Global X Japan Co. Ltd. now owns 389 shares of the biopharmaceutical company’s stock worth $27,000 after acquiring an additional 230 shares during the period. Brooklyn Investment Group purchased a new position in shares of Incyte in the third quarter worth about $30,000. R Squared Ltd acquired a new stake in shares of Incyte during the fourth quarter worth about $30,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Incyte in the third quarter valued at approximately $33,000. Finally, Cromwell Holdings LLC increased its holdings in Incyte by 101.1% in the 3rd quarter. Cromwell Holdings LLC now owns 563 shares of the biopharmaceutical company’s stock worth $37,000 after buying an additional 283 shares during the period. 96.97% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Incyte news, EVP Steven H. Stein sold 12,352 shares of the firm’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $72.69, for a total value of $897,866.88. Following the transaction, the executive vice president now owns 66,967 shares in the company, valued at approximately $4,867,831.23. This trade represents a 15.57 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Thomas Tray sold 650 shares of Incyte stock in a transaction on Friday, December 13th. The stock was sold at an average price of $70.64, for a total transaction of $45,916.00. Following the sale, the insider now directly owns 23,962 shares in the company, valued at approximately $1,692,675.68. This trade represents a 2.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 19,695 shares of company stock worth $1,444,356 in the last 90 days. Insiders own 17.60% of the company’s stock.

Incyte Stock Performance

INCY opened at $74.13 on Friday. The firm’s fifty day simple moving average is $71.80 and its two-hundred day simple moving average is $69.08. Incyte Co. has a 52-week low of $50.35 and a 52-week high of $83.95. The company has a market cap of $14.28 billion, a price-to-earnings ratio of 529.54, a PEG ratio of 0.54 and a beta of 0.70. The company has a quick ratio of 1.82, a current ratio of 1.87 and a debt-to-equity ratio of 0.01.

Analysts Set New Price Targets

INCY has been the subject of several research reports. William Blair restated an “outperform” rating on shares of Incyte in a research note on Friday, December 13th. Bank of America upgraded shares of Incyte from a “neutral” rating to a “buy” rating and boosted their target price for the company from $68.00 to $90.00 in a research report on Tuesday, October 29th. UBS Group initiated coverage on Incyte in a research report on Tuesday, December 17th. They set a “neutral” rating and a $77.00 price target on the stock. Royal Bank of Canada reiterated a “sector perform” rating and set a $70.00 price objective on shares of Incyte in a research note on Thursday, January 23rd. Finally, The Goldman Sachs Group upped their target price on Incyte from $63.00 to $70.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. One analyst has rated the stock with a sell rating, eleven have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $75.71.

Incyte Company Profile

Incyte Corporation, a biopharmaceutical company, engages in the discovery, development, and commercialization of therapeutics for hematology/oncology, and inflammation and autoimmunity areas in the United States and internationally. The company offers JAKAFI (ruxolitinib) for treatment of intermediate or high-risk myelofibrosis, polycythemia vera, and steroid-refractory acute graft-versus-host disease; MONJUVI (tafasitamab-cxix)/MINJUVI (tafasitamab) for relapsed or refractory diffuse large B-cell lymphoma; PEMAZYRE (pemigatinib), a fibroblast growth factor receptor kinase inhibitor that act as oncogenic drivers in liquid and solid tumor types; ICLUSIG (ponatinib) to treat chronic myeloid leukemia and Philadelphia-chromosome positive acute lymphoblastic leukemia; and ZYNYZ (retifanlimab-dlwr) to treat adults with metastatic or recurrent locally advanced Merkel cell carcinoma, as well as OPZELURA cream for treatment of atopic dermatitis.